New York federal jury has ruled against Def Jam and awarded TVT Records $132 million in damages. The Island Def Jam Music Group and Lyor Cohen have been ordered to pay $108 million in punitive damages and $24 million in compensatory damages.
The suit stems from Def Jam preventing TVT from releasing the Cash Money Clik album that featured Ja Rule. Originally signed to TVT in 1993, Ja left for Def Jam but agreed to make an album with CMC. TVT claims they came to an agreement with Def Jam, but they later reneged and blocked the release of the album.
I am obviously extremely pleased,” TVT President Steve Gottlieb said. “The significance of this verdict can only be fully understood if one were to read the transcripts of the court proceedings, which reveal the systematic pattern of wrongdoings by Def Jam executives. I see this verdict as vindication for independent businessmen in every field.”
To no surprise, Def Jam lawyers will appeal the ruling.
